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VA getting out to veterinarians with mortgages issues
ASHINGTON (AFPN) -- Many home-owners have found it challenging to repay their mortgage rates recently, but rapid action by mortgage consultants at the Department of Veterans Affairs has actually decreased the number of veterans falling back on their home loans. " VA will reach out to veterans, both those who use our home loans guarantee programme and those who do not take advantage of our guarantees to keep folks in their homes," said Minister of Veterans Affairs Dr. James B. Peake.
"I am proud of our strong track records in assisting veterans and proactive employees in the management of fiscal crises." Much of this achievement is achieved through VA consultants in nine local credit centres who help individuals with VA-guaranteed loans prevent foreclosures through advice and specific funding covenants. They can also help other veterans with money issues.
UA consultants have aided approximately 74,000 veterans, activists and surviveants to keep their houses since 2000, a saving for the administration of nearly $1.5 billion. Subject to a veteran's circumstances, VA advisors can intervene with the borrowers on behalf of the veteran to exercise choices -- such as payback schedules, indulgences and credit changes -- that would allow a veteran to keep his or her house.
Veterans can call VA toll-free at (877) 827-3702 for help from a VA Finance Advisor. For information on the VA Home Improvement Guarantee Programme, visit www.homeloans.va.gov. From 1944, when home loans guarantees were provided under the initial GI Bill, VA has provided more than 18 million home loans valued at $911 billion.
Approximately 135,000 veterans, members of staff and surfers were granted loans worth nearly $24 billion last year. Approximately 2.3 million home loans that are still in force were bought through VAs home loans guarantee programme, which makes home loans more affordable for veterans, mandatory activists and some spouses living by shielding lending agencies from losses if the borrower does not pay back the loans.
Over 90 per cent of the VA-supported housing loans were granted without down payments. VA ascribes this to conservative lending review defaults, its resilient complementary lending processing programme and VA Finance Advisors.